| FOR IMMEDIATE RELEASE | 28th October 2004 |
Swire Properties today (Thursday, 28th October 2004) announced agreements with two international tenants, Société Générale and Philips Electronics Hong Kong Limited, to lease over 140,000 sq. ft. at Three Pacific Place, accounting for 26% of the building.
"Following the grant of Occupation Permit, Three Pacific Place has successfully completed the signing of Philips Electronics Hong Kong Limited and Société Générale's SG Corporate & Investment Banking (SG CIB) and Fimat divisions in Hong Kong. With their respective occupation of the lower and upper zones, the tenants are fully confident that Three Pacific Place provides them with the strategic location and superb flexibility to do business in their own way," commented Swire Properties' Director and General Manager, Mr Jolyon Culbertson.
SG CIB, the third largest bank in the euro-zone based on revenues, and Fimat, a leading global brokerage organisation, are taking approximately 67,000 sq. ft. in the top zone of Three Pacific Place.
"We are very pleased to be relocating to new premises in Three Pacific Place. Our new offices will provide a highly efficient and flexible platform for developing SG CIB's business and serving our clients, and an enhanced workplace environment for our teams," said Mr Xavier Jacquemain, Chief Operating Officer, SG CIB Asia Pacific.
Furthermore, Philips Electronics, who is 124th in the Fortune 500 list of companies, has committed to lease five floors comprising a total area of some 75,000 sq. ft. at Three Pacific Place, where it will consolidate its offices now located in North Point and Wanchai, to enjoy the highest degree of synergy through this latest addition to the Grade-A commercial portfolio of Swire Offices.
"We are glad that our various business groups and departments in Hong Kong are moving together under one roof at Three Pacific Place. By working together in an open office design, it stimulates greater interaction and experience sharing among all staff, thus enabling us to serve our customers better as 'One Philips'," said Mr Andreas Wente, President & CEO, Philips Electronics Asia Pacific.
As the only new Grade-A office development available in prime business district in 2004, Three Pacific Place is a natural extension of the self-contained, fully-integrated Pacific Place complex, which is the Central Business District's hub for first-class working, living, shopping and dining.
"Like One and Two Pacific Place, we believe that Three Pacific Place is the prime choice for Fortune 500 multinationals as well as leading local corporations. It provides unparalleled accessibility, management service and direct connection to an oasis of supreme facilities in Pacific Place," added Mr Culbertson.
With its emphasis on building excellence, Swire Offices has created major business hubs in Hong Kong, offering business corporations the best facilities, connectivity, environment and services in which to operate.
About Swire Properties
Swire Properties, a wholly-owned subsidiary of Swire Pacific Limited, was incorporated
in 1972 and is one of Hong Kong's leading developers with extensive experience
in the development and management of major commercial, retail and residential
properties. The company's strategy has been to 'hub' its investment
property holdings around major shopping centres and office towers constructed
at the principal Mass Transit Railway intersections.
Swire Properties' investment portfolio in Hong Kong principally comprises
office and retail premises, which it manages in prime locations, as well as
serviced apartments and other luxury residential accommodation. The completed
portfolio totals just over 12 million sq ft of gross floor area. Current investment
property pending or under development in Hong Kong comprises a further 3.26
million sq ft, mainly of office space.
Visit Swire Properties web site at www.swireproperties.com
About SG Corporate & Investment Banking
SG CIB is the Corporate and Investment Banking arm of the Société
Générale Group. Present in over 45 countries across Europe, the
Americas and Asia, SG CIB is a reference bank specialising in Euro capital markets,
derivatives and structured finance.
Combining innovation and quality of execution, SG CIB provides corporates, financial
institutions and investors with value-added integrated financial solutions.
Visit SG Corporate & Investment Banking web site at www.sgcib.com
About Fimat
Fimat is a part of SG Global Securities Services for Investors (SG GSSI).
As one of the world's leading brokerage organisations, Fimat provides global
clearing and execution services to institutional users of derivatives and securities
markets worldwide.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of
the world's biggest electronics companies and Europe's largest,
with sales of EUR 29 billion in 2003. With activities in the three interlocking
domains of healthcare, lifestyle and technology and 166,800 employees in more
than 60 countries, it has market leadership positions in medical diagnostic
imaging and patient monitoring, color television sets, electric shavers, lighting
and silicon system solutions.
News from Philips is located at www.philips.com/newscenter
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